National Grid (LON:NG) Receives “Top Pick” Rating from Citigroup

Citigroup reiterated their top pick rating on shares of National Grid (LON:NG) in a research note issued to investors on Monday morning, Marketbeat reports.

Several other research firms also recently weighed in on NG. Royal Bank of Canada reaffirmed an outperform rating and set a GBX 1,125 ($14.86) price target on shares of National Grid in a research note on Tuesday, June 25th. JPMorgan Chase & Co. reissued an overweight rating and issued a GBX 1,200 ($15.85) price objective on shares of National Grid in a research note on Friday, August 30th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Buy and a consensus target price of GBX 1,238.75 ($16.36).

National Grid Stock Up 0.3 %

Shares of LON:NG opened at GBX 1,047 ($13.83) on Monday. National Grid has a 1 year low of GBX 645 ($8.52) and a 1 year high of GBX 1,145.50 ($15.13). The business has a 50 day simple moving average of GBX 980.63 and a two-hundred day simple moving average of GBX 995.12. The firm has a market capitalization of £51.20 billion, a PE ratio of 1,897.27, a price-to-earnings-growth ratio of 2.05 and a beta of 0.25. The company has a debt-to-equity ratio of 161.24, a current ratio of 0.91 and a quick ratio of 0.34.

Insider Activity

In related news, insider John Pettigrew acquired 271 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were purchased at an average cost of GBX 937 ($12.38) per share, with a total value of £2,539.27 ($3,354.39). In other news, insider Andrew Agg acquired 18,915 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was acquired at an average price of GBX 945 ($12.48) per share, for a total transaction of £178,746.75 ($236,125.17). Also, insider John Pettigrew acquired 271 shares of the firm’s stock in a transaction on Friday, July 19th. The stock was purchased at an average price of GBX 937 ($12.38) per share, with a total value of £2,539.27 ($3,354.39). Insiders have purchased 19,232 shares of company stock valued at $18,173,446 over the last ninety days. 0.16% of the stock is currently owned by insiders.

About National Grid

National Grid plc transmits and distributes electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.